Trinity Capital Inc. $TRIN Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Trinity Capital Inc. (NASDAQ:TRIN) by 78.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 25,000 shares of the company’s stock after purchasing an additional 11,000 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Trinity Capital were worth $352,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC acquired a new position in shares of Trinity Capital during the 1st quarter valued at $38,000. PNC Financial Services Group Inc. acquired a new position in shares of Trinity Capital during the 1st quarter valued at $45,000. Quarry LP increased its position in shares of Trinity Capital by 194.8% during the 1st quarter. Quarry LP now owns 4,442 shares of the company’s stock valued at $67,000 after purchasing an additional 2,935 shares during the period. Geneos Wealth Management Inc. acquired a new position in shares of Trinity Capital during the 1st quarter valued at $108,000. Finally, Exeter Financial LLC acquired a new position in shares of Trinity Capital in the 2nd quarter worth $143,000. 24.62% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Trinity Capital news, Director Ronald E. Estes acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was acquired at an average price of $16.07 per share, with a total value of $32,140.00. Following the transaction, the director owned 35,779 shares of the company’s stock, valued at approximately $574,968.53. This trade represents a 5.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kyle Steven Brown acquired 3,200 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average cost of $15.78 per share, with a total value of $50,496.00. Following the transaction, the chief executive officer directly owned 1,006,300 shares in the company, valued at $15,879,414. The trade was a 0.32% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 7,200 shares of company stock valued at $114,856 in the last three months. 5.31% of the stock is owned by insiders.

Trinity Capital Trading Down 1.5%

Shares of TRIN stock opened at $14.44 on Friday. Trinity Capital Inc. has a 1-year low of $12.50 and a 1-year high of $16.82. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 6.48 and a beta of 0.53. The stock’s fifty day simple moving average is $15.80 and its 200-day simple moving average is $14.97.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $69.48 million during the quarter, compared to analysts’ expectations of $68.84 million. Trinity Capital had a return on equity of 15.72% and a net margin of 51.88%. On average, sell-side analysts predict that Trinity Capital Inc. will post 2.06 EPS for the current year.

Trinity Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 14.1%. The ex-dividend date of this dividend is Tuesday, September 30th. Trinity Capital’s payout ratio is currently 91.48%.

Wall Street Analyst Weigh In

TRIN has been the topic of a number of recent research reports. UBS Group lifted their target price on Trinity Capital from $17.00 to $17.50 and gave the stock a “buy” rating in a report on Wednesday, July 16th. Wells Fargo & Company restated an “underweight” rating and issued a $13.50 target price (up from $13.00) on shares of Trinity Capital in a report on Tuesday, August 12th. Finally, B. Riley lifted their target price on Trinity Capital from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Trinity Capital presently has an average rating of “Hold” and a consensus target price of $15.75.

About Trinity Capital

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.